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US stocks seen mixed as traders look to big bank earnings; European shares higher

Last updated: 12:09 13 Jul 2018 BST, First published: 07:09 13 Jul 2018 BST

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After a positive Wall Street close, US shares are set to open mixed at the end of the trading week as big banks come and their earnings come into focus.

President Trump has also now begun his four day visit to the UK and has already caused ructions by suggesting in an interview with a British newspaper that  Prime Minister May's current approach to Brexit would prob ably mean a US trade deal was off the table.

 

Sterling, which has been on a high of late, felt the punch, withp the currency down 0.25% against the Euro and down  0.58% against the US dollar.

 

On Wall Street on Thursday, stocks were higher with the Dow Jones Industrial Average up 224 points at 24,924, while the S&P 500 added around 24 at 2,798 and the Nasdaq gained 107 to 7,823.

In futures trade, the Dow Jones is up eight points, the Nasdaq is up around five points, while the S&P 500 is up 0.50.

In London, FTSE 100 is up over 33 points, while the German DAX is up 28 points and France's CAC 40 is up nearly 190 points.

In Asia overnight, the Nikkei 225 romped up over 409 points at 22,597, while the Shanghai Composite Index shed nearly 6.5.

In the US before the  bell, big beasts Citigroup (NYSE: C), JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC) and First Republic Bank (FRC) are due to release quarterly earnings, sure to be closely watched as a signal for the earnings season to come.

Craig Erlam at online trading platform Oanda.com. said of morning markets : "European equity markets are trading in the green on Friday, taking the lead from the US session on Thursday where tech stocks drove a rally that saw the NASDAQ hit a record high.

"With earnings season getting underway, investors will be looking for reasons to be more optimistic having spent months reading about the risks that a trade war poses to the economy.

"JP Morgan, Citigroup and Wells Fargo will kick things off today and over the coming weeks, investors will be paying close attention not just to the results but also references to trade tariffs and the impact they are expected to have on future results, particularly those that have already been targeted in counter-measures taken or proposed against the US."

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